Mango Tree Apartments
56 Unit Apartment Building | $12,999,999 ($232,143/Unit) | 6.22% Cap Rate | Fontana, CA 92336
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $12,999,999
- Property Type
-
Multifamily
- Square Feet
- 54,698 SF
Listing Contacts
Albert Le
Verified Profile
Anthony Le
Verified Profile
- Property Info
Property Overview
First time to the market in 30+ years. True value-add opportunity, with rents for subject property being approximately 40% under market. Welcome to this exceptional 56-unit apartment building the Mango Tree Apartments, ideally located in the heart of Fontana, CA. Built in 1985 and set on a generous 2.43-acre lot, this property offers a perfect blend of comfort and convenience for residents. The community features 16 spacious one-bedroom, one bathroom units and 40 two-bedroom, two-bathroom units. Residents benefit from private balconies, perfect for relaxing and enjoying the surroundings.
Property Details
- Class
- C
- Year Built
- 1985
- Stories
- 2
- Lot Size (sq. ft)
- 105,851 SF
- Units
- 56
Highlights
- Seller Has Possibly Identified Upleg / Tremendous Upside
- Rents for subject property are approximately 40% under market per recent rental survey conducted.
- First Time To The Market in 30+ Years /The property was constructed in 1985 & is positioned on a large 2.43 Acre Lot.
- True value-add opportunity by replacing current below market rents & continuing unit renovations. / 6.22% ProForma Cap Rate
- Excellent Unit Mix of 70% 2-Bedroom, 2- Bathroom Units (40), & 30% 1-Bedroom, 1- Bathroom Units (16).
- The property features complete fencing with controlled gated access and covered onsite parking. / Onsite Laundry & Fenced Pool
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